It’s impossible to avoid the headlines about condos and their place in the current real estate market.
“The condo market is slowing down”
“Metro Vancouver condo sales dropped 20 per cent”
““ancouver condo market shows signs of crashing”
One realtor was even heard to say, on television, that there were more for-sale signs than posts to put them in the ground…which was at the very least a gross exaggeration, of course.
Such headlines have an impact on current sales. Buyers read them and hold off buying. Sellers read them and hold off listing.
A CBC story speculated that the “condo market meltdown” in Canada’s largest cities is showing no signs of fading. In its report, a Toronto realtor said of his big-city market: “We've got seven months of inventory, which is insane, and we just don't have the buyers to absorb it. We haven't seen that much inventory in 20 years.”
The facts are always the facts, naturally, and the Lower Mainland’s sales and listings statistics are revealed each month by Greater Vancouver Realtors, then reported in the monthly newsletter News From Nexus. However, facts are always open to interpretation.
There will be more on interpreting the condo market — as well as the single-family home and apartments markets — in the next issue of News From Nexus, emailed the first week of June. To subscribe, all you have to do is enter your email address in the box at the bottom of any page at newsusrealtycorp.com.
The fourth announcement (June 4) produced the widely-anticipated result: no change. The Bank kept the rate at 2.75 per cent for the second straight time. 
